12 Shawwal 1445 - 21 April 2024
    
Sign up for newsletter
Eye of Dubai
Environment & Energy | Monday 6 November, 2023 9:45 am |
Share:

Saudi Arabia to continue voluntary output cut of 1 mln bpd in December

Saudi Arabia will extend its voluntary output cut of one million barrels per day (bpd) through December, the state-run SPA reported today, Nov. 5, citing an official source at the Ministry of Energy.

 

 

 

The Kingdom’s output will near nine million bpd in December.

 

 

 

Saudi Arabia will revisit this decision next month to consider extending it, deepening it, or increasing production, according to the source.

 

 

 

Today’s cut is paired with the voluntary oil-output cut announced by the Kingdom in April through December 2024, the source added. The additional voluntary cut builds on OPEC+ precautionary efforts to enhance the stability and balance of oil markets.

 

 

 

Source : Argaam

 

Share:
Print
Post Your Comment
ADD TO EYE OF Dubai
RELATED NEWS
Fed maintains rates, sees three-time cut in 2024
Fed maintains rates, sees three-time cut in 2024
Thursday 14 December, 2023 9:12
MOST POPULAR